First-Time Home Buyers

Here are the steps to ensure as smooth a transaction as possible. As always, we are here to help the entire step of the way in your Mammoth Lakes Purchase. 

Pre-Qualification: We will put you in contact with a mortgage broker to find out how much you can afford to pay for a home. Sometimes this may surprise you and you realize you can afford more than you expected. This also avoids the disapointment of falling in love with something you can't afford. 

Pre-Approval: Knowing how much you can afford is a great first step. Sellers will also be more receptive to your offer if you have been pre-approved ahead of time. With Pre-Approval, the buyer actually applies for a mortgage and receives a written commitment from a lender. This way, assuming the home you're interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer. Costs for pre-approval are generally a small amount and lenders will typically permit you to pay them when you close your loan.

List of Needs & Wants: Make 2 lists. The first should be must have items (i.e., the number of bedrooms you need for the size of your family, neighborhoods you want to be in, if you want something more updated, etc... The second list is your wishes, things you would like to have but that are not absolutely necessary. Realistically you probably will not get everything on your wish list, but it will keep you on track for what you are looking for.

Visualize the house empty & with your decor: Are the rooms laid out to fit your needs? Is there enough light? Is there potential to make the space something that works for you? Sometimes it is necessary to overlook certain items that can often be easily fixed. 

Be Objective: Instead of thinking with your heart when you find a home, think with your head. Does this home really suite all of your needs? There are many properties on the market, so don't make a hurried decision that you may regret later.

Be Thorough: A few extra dollars well spent now may save you big expenses in the long run. Don't forget such essentials as:

1. Include inspection & mortgage contingencies in your written offer.
2. Have the property inspected by a professional inspector.
3. Request a second walk-through to take place within 24 hours of closing. (or I can do this for you)
4. You want to check to see that no changes have been made that were not agreed on.

All the above may seem rather overwhelming. That is why having us represent you and keep track of all the details for you is highly recommended. Please email us or call us directly to discuss any of these matters in further detail. We are here to help! 

Jamie Kelly and Cynthia Fleming

Resort property realty